the target is for tesla and toyota over| target is for tesla and toyota over 10 million sales a year.d currently 1.3 million. it's not as profitable as other car—makers that they would argue they are trying to open up this market and encourage the sale of electric vehicles. they are operating in only one part of the market, albeit way through to sales have to go to. everyone is watching carefully. tesla is aiming at those premium brands that were more traditionally established by putting it prices down it really is hitting the mainstream and that is putting a lot of pressure on those established mainstream car—makers who are looking very wearily at how they respond while maintaining those profit margins. us treasury secretary janet yellen is to visit the chinese capital, beijing, this week. the treasury said it would be a visit to discuss the importance, for both sides, to "responsibly manage the relationship and work together to address global challenges". it comes amid continued tensions between the world's two largest economies, as our asia business reporter monica miller explains.

tesla ceo elon musk saying tesla production will decrease slightly that's all we have right now the stockbout .75% of a percent. big blue earnings. next, carvana's extreme makeover the used car company completing a major debt dealing to sell a truckload of new shares. is this comeback for real? we'll break it down and get the action next. "fast money" will be right back. >>> welcome back to "fast money. the carvana nirvana continues. shares jumping more than 40% on a deal to reduce its debt by $1.2 billion also filing to sell 35 million class a shares the used car retailer stock is up more than a thousand percent this year alone. carvana ceo sat down with jim cramer moments ago. >> '22 came and we were positioned for another year of growth and car prices went up and interest rates went up and it got more expensive for our customers. and we overextended and we had a lot of work to do to catch back up in q1 we had negative $360 billion of ebitda which is not a good number. but in the last 15 months, we had 155 million positive this quarter. and that only hatched because our customers love o

as tesla customers?uite possibly not if that's the case, you seal see this push business to the other networks out there like electrify america and e v go and others i am skeptical. >> you are skeptical you're skeptical on a lot of things people are bullish on one more question before i let you go there was a lot of talk this year about elon musk being distracted is that still the narrative and what are you expecting are you expecting it >> i see elon musk tightly focused on the mission at hand, the fact that he showed up at beijing at exactly the right time, the fact that he spent time with modi to discuss tesla's entry to india he's spending the right amount of time at tesla he's an interesting guy himself, you know i don't hear that as a major complaint these days. >> tesla trading fractionally higher >>> coming up here on "worldwide exchange," encouraging signs around inflation in the uk, what it could all mean for the looming rate decision for central bankers. we're going to talk a lot more about th

you saw the share price declines on tesla and netflix is a theme.here is a high bar for tech because of the run-up and the stocks we have seen this year show no room for error for tesla in particular, the issue was around the future product. thecyber truck it has been a long time since tesla brought new product into the market when it was unveiled in 2019. now we hear of issues in the production line of it. elon musk saying it is unlikely we get mass production until next year. this was the kind of big product that the market was betting on in terms of the near term and ramping up deliveries as well and we hear issues over that >> i was curious to hear his comments on pricing. it really did set the tone for the automakers in last couple months tesla had been slashing prices aggressively his justification is we are in a higher interest rate environment. if you are leasing out a car, you pay higher interest rate payments to compensate to make the all-in costs lower you have to lower the price of the cars the justification, in his mind, was higher inte

, ., ., tesla? tesla, as the global ev leader, tesla? tesla, as the global ev leader. they — tesla? leader, they had _ tesla? tesla, as the global ev leader, they had the _ tesla? tesla, as the global ev leader, they had the second i leader, they had the second best quarter ever but if you look at the aggregate, in china mainland they haven't been prioritising other markets. they outsell tesla by a significant number in china and globally. so i think byd would it begins to become a global company, becomes the lightest ev company in the world with a very short span of time. the row over _ very short span of time. the row over the _ very short span of time. the row over the future - very short span of time. the row over the future of - very short span of time. the row over the future of super secure messaging is picking up the pace this week. the uk has tightened protections and its landmark online safety belt, a move that could impact technologies and encryption. some activists say that there is a need for this to protect children and others say the move could impact the privacy for

it is a big chunk of the pie for tesla.hey have to do well there that is why it was the fuirst market the price cuts came into for tesla. that is why they are strategic for china. they don't want to be too cheap or expensive that is the balance that elon musk is trying to find. >> i did not realize it was big. 30% to 40% arjun, stick with us we have a few tech stories swirling around. twitter introduced limits on the number of posts users can view due to extreme level of data scraping the daily view limits set at 6,000 posts and 600 for verified and unverified accounts. some users speculated the decision could be related to other technical issues after outages were reported before the new rules were put in place. >>> now on to apple making headlines. it is making significant cuts to its production forecast for augmented reality head helicopter vi-- headset the viso pro. according to sources at the financial times, chinese manufacturer lux share is prepared to make 4,000 units the only assembler of the new device for apple a

netflix and tesla are higher they get set t

are you buying tesla right now? >> as a firm, we own tesla, and they own a boat load of tesla. as a recommendation for holding in the bungee page -- >> tesla shares have been out there. short-sellers as long as i can remember. on a day like this are they sharing? a 9% drop a 9% drop, $265, and epic 2023. >> don't know what the cheering would be about. the business is on track, stock is up one hundred 15% year to date trading at 60% or 70% earnings. it is the profit-taking we see with nvidia, microsoft, the core tech leaders. >> a massive number of new subscribers, and and i look at this name. the ones in the pole position best in class when it comes to streamers. and trades are very high multiple. and margin expansion, higher cash flow. a very good rally, and it is nothing more than that. >> i want to bring brian into the conversation, broadening the discussion, how the us is looking, how the industrials are on a hot streak, and we have 9 straight up days. those keeping score, the biggest record is 13 for the dow jones industrials, going back to january 1987. what also happened

the investors are happy with the strategy from tesla. cut prices and gain share at the expense of margin. as it continues over the coming quarters, it will realize when the margins ramp back up this is a market share gain tme for tesla. the company signaling in the third quarter, they will likely see slower production with shutdowns and factories as they look to upgrade those and then secondly with the cyber truck. it has been a long time since tesla released a new product and it is having production issues at the moment. it will be next year until the high volume production will come that is where the disappointment came from with the after hours dip. >> chaarjun kharpal live in the london newsroom. thank you. >>> turning back to the markets and investors are bullish as the markets grind higher results from june showing investors expecting 5.5% returns in the next year that is up from april and the highest reading from the 6% forecast in december of 2021 which was a month before the s&p hit a record high. for more, let's bring in skyler

you want tesla and also the tesla of china. it is good to have that broad-based diversification. i think these are all going to be winners. the entire pie of ev is glowing -- growing globally. massive upside for anyone who gets it right. in terms of tesla, the fact they are talking about building what is larger. in germany, the home of german autos, the michigan of europe, is mind-boggling to me. the demand will continue, and the opportunity for car sales goes there. if you look at ev sales, 50% of ev's could -- cars sold were ev. in europe, that number is closer to 60%. he's following the line of interest. >> at a time when macro headwinds are there. where elon musk started. the focus on interest rate rising and impacting the consumer. how are you feeling about that picture right now? >> i'm a little more bullish on the macro picture. we talked about the stock picks getting crushed last year in 20 with interest rates rising. that is playing out. there was a bear market and interest rates were rising. we are coming to the end of that. it is manageable, we are already there. in te

for tesla earnings, what is the takeaway?two things people care about is market share and margins. they delivered 466,000 in the second quarter, a record but the gross margin in at 18.2%, not a terrible number for a carmaker, particularly an ev maker. about five quarters ago that was closer to 30%. is it working? in europe in the first half, model wiedt the best selling car in all of europe. last year -- i mean yesterday we got european car sales, tesla outsold volvo, nissan. they have more inventory, so they cannot sell every car they are producing. dani: what other milestones were hit this quarter? >> we lose 5% today and gained hundred 30% year to date. $530 billion of market cap. it is an emotional event to be a tesla owner. it shows you how far ahead tesla is in this ecosystem, and the big news for some people, the cyber truck. we had the first one roll off the assembly line in texas. we remember four years when they launched this, demonstrating the shattered glass that shattered on impact. you will see these on the road

is bad news for tesla. it handcuffs them. if you think about it, their chinese competitors are coming out with a very good product the reasons tesla took the price cuts earlier this year is because they were losing market share. when you take that pricing lever away, the good news is their margins will be better because they won't be cutting pricing. but the market share will continue to go down and volume will continue to struggle, which means their plant will be running at undercapacity, which will be a big drain on them. >> i just finished a documentary on chinese corporate espionage airing here on cnbc these days but in that documentary, one of the experts we interviewed said that he was in china, talking to auto suppliers, the people who supply parts to can tesla in china. one company told them a competitor came and said give us the same parts you give to tesla, exactly the same, we'll fit them into our cars if that's the environment you're operating in with tesla, you can't do your own pricing strateg

and tesla driving profitability at scale for mizuho. we will have more on tesla in just a moment.hares of tesla are down 1% this morning. and rbc capital with an out perform. rbc says bloom is positioned for growth and improving through the decade as it plays a role in the energy transition. shares up over 2%. >>> time for the global briefing a check on the headlines dominating conversations on trading desks around the world shell saying earnings will be significantly lower in the second quarter due to seasonal shift noticein the market. the company adding oil and gas production will be down from the first quarter due to field maintenance. new data showing base salaries grew at the fastest pace in may. the bank of japan viewing it as a gauge for the next policy steps. shares of alibaba popping ahead of the report that china is likely to announce a $1 billion fine against the a.n.t. group as soon as today. the move will bring an end to years of regulatory overhaul to the fintech affiliate. >>> turning to the battle with the ev old guard and new generation our phil lebeau is digging

he posted something in the context of tesla he said the ancillary revenue that would come in for tesla on the back of their charging units and that other carmakers in the u.s. want to adopt the same type of battery charged units that tesla has is going to be a game-changer for them as a company because they're moving away from the many manufacturing of cars but they're providing the ecosystem around the electric cars as well. >> that's what you get when you're the first mover that's what tesla has done all automakers to some extent have a level of jealousy around tesla. they want to be tesla because of the way it's come to market, because of the brand power, and because of now the new areas it's expanding too the bulls are very excited about the ancillary revenue, they're excited about charging, and they're also excited about the software side of the business as we move to a world in the future of more autonomous driving and what they can do in terms of subscription revenues, et cetera, et cetera, which elon musk has spoken about a lot. that's what they're excited about for tesla. righ

let's get into tesla first with su keenan. investors are not liking what they see so far. >> they don't like the lower profitability, and on the earnings call, muska said that he will price cards -- cut prices even further if economic conditions worsen. and he is quite comfortable with that. it is a strategy that appears to be working because the company beat on both earnings and revenue expectations, although it missed on gross margins, while the inventory signal for low demand is attempting to be countered by muska saying that demand is off the hook and it is hard to find the hook. the company is also pouring money into ai and the new cyber truck. and there are many analysts that believe cyber truck sales could actually help bolster demand at this point. exporting items came in at $.91 a share for tesla, more than the $.81 estimate, going up to 21.9 billion, you could not have a better performance, up 135% year to date, so, was it a good earnings report? analysts will say that it was, but the question that investors have, an

as far as tesla -- i would say as far as tesla, yes, there was a draw down towards the end of last yearbut i don't know it was ever around the company fundamentals it was around what's going on with tesla share price is their ceo willing to fund tesla, fund twitter? it wasn't really around the fundamentals and as tesla's fundamentals have improved it's around the stock rallied. if you look at these two stocks i don't want to say one overowned but from a retail standpoint at a high multiple where protectations are very high you've got a stock at rivian where expectations are very low and i think that's the time you want to buy a stock underperforming that could turn into an outperformer >> you have a hold on tesla as you said i'm curious what role does competition for tesla play in your skepticism? >> minimal i think tesla has a great future i just from an institutional investor perspective i look at the stock trading when i'm factoring in 20% eps growth. i am willing to, you know, put what a retail investor had on it but 45 times for a 20 percentage eps growth doesn't feel as great a fi

we won't have earnings the same way with tesla tesla's later in july.t have earnings from this company until august 8th >> we've got a bit of a lag there. clearly, to your point, mike, a lot of interest in these stocks today. >> and byd also beat on volumes as well. so, it seemed it was a good quarter in general for ev sales globally everybody riding that and the stock's reflecting it so far >> yeah. well, various goals that are out there in terms of decarbonizing. we're going to get to the overall auto market being evs very quickly we are seeing most of the final product. >> there's the opening bell. realtime exchange, our headquarters, of course, as well maybe a little more red on that board. over at the big board, we've got the museum of the american revolution celebrating independence day >> usa, usa, usa >> over at the nasdaq, vets index, companies deemed as the best employers for veterans. when we were in commercial break, they were quiet, but now it's the fife, i guess, whatever we call that very nice. ♪ >> as we see how things are getting togeth

tesla is a dominant company in the u.s.probably a bunch of other stuff he hasn't told us about yet. he can't believe tesla's cash flow. he is actually mocking. he said don't let the door hit you on the way out. every time the decline is justified they scare people away. when you've got fantastic management and phenomenal product you tend to win out over the long-term to spite the speed bumps. it takes more than one day for these kind of stocks to bottom. he is not done going down. there's plenty of big money rotating to other sectors. it may take five days because we've got the nasdaq 100 rebalancing tomorrow. make no mistake netflix and tesla are some of the greatest investments of all time and i heard nothing at all last night to make me feel differently about them. all that is happened is you are going to get the stock even lower, maybe even a week or two. i'm jim cramer. see you next time. building parallel will >>> if you thought summer air travel nightmare couldn't get any worse, you may be very wrong. the points guy

kelly mentioned the netflix and tesla trade.daq, down 218 points. 14,139 on the other end of the spectrum, some value oriented names, up three quarters of 1% the dow, 261 points to the upside, 35,323 that broader market view of the s&p 500, pulling back a little bit here 4547 is your last trade, down 18 points it hs been a down day overall. the highs of the session, we were down one in the s&p so tilting towards the lower end of that trading range. another place besides netflix and tesla seeing some downside is weakness in the red hot secteconductor industry. -- semikconductor industry it's pulled down from a record high the catalyst today was a better than expected earnings report from taiwan semiconductor, the biggest maker out there. but it's the current quarter that came in lighter than expectations that's dragging many of those stocks down. way big upside moves over the last year or so, keep that in mind for the semiconductor stocks if you are looking at stocks of the day so far, check out some of the nmovingies we are seei

how does tesla continue to push through when a huge course of people constantly say tesla can do it?a bears are basically looking at the market like it's an auto manufacture. but the problem this is part one of the overall tesla plan, what tesla is able to do the automation of the plants and vertically integrated markets and the charging standards having an asc with competitors with the same charging standard are operating at scale. what they're doing is a market cap rate there taken a capital and lowering prices, what why mean by that tesla's margins are $9500 per vehicle. look at gm 2100 and if you look to be widely it is 1504 negative 1800 per vehicle, they have a lot of room to take market share on the competitors if they want to and of course strike down affordability. >> why are there so many haters in the market to tesla and elon musk? >> if you were to take a realistic view of the automobile business, you say this is ridiculous, these numbers don't make any sense but if you take a step back and say this is an energy business, and insurance business a self driving vehicle busi

>> tesla, take the -- off. put

>> tesla misses deadlines.ot specifically saying 2025 they are doing, though, working ground on mexican plant where it will start production. in shanghai, they built from ground to start production in nine months. i don't think they'll necessarily do that in mexico. even twice as long, could start production in early 2025 seems realistic. again, could it be pushed back absolutely. >> let me give you a tcouple tip free to pass on to elon. refresh their line and the new affordable thing a part of that as well. here is my -- i own a tesla. transparent about that with everybody. they have so much of the sort of capital of the car invested in the touch screen the big touch screen, that takes the place of the dashboard it takes the place of gauges and so forth i think they need to bring back the speedometer, the gas -- and put it right in front of the driver's eyes. i think they relied too much on that touch screen. a lot of the touch screen, it's great. but i don't think -- i've been in other makers' cars and they d

it is the hyper scaling of tesla that made it possible.u need two or three more models to continue to double your volume? you might end up having 50 or 60 models and then there is no tesla story effectively. kailey: if we are talking about new models, where is the cyber truck in this? philippe: we have seen first production. i was surprised it was as angular as the first because it is not an easy product to deal with. it is complex to manufacture. but until we know the price, it will be difficult to maybe ford had an inkling of the price and that is why they decided to cut the price of the lightning. guy: kailey leinz is interested in the f-150 lightning. she was joking she cannot afford a house. to my mind, the f-150 is the same size as a house. you could live in one and you could power-one. how serious a competitor? is that the market they are going after? you could talk about the scale of that market, but is not a realistic objective for tesla? philippe: two check mark it is fascinating/ definite -- the truck market is fascinating. japa

tesla have been very reliant on china for tesla model threes sold into the uk so they are looking atgill china for the european market. all e es china for the european market. all eyes are on lithium now, where is that going to come from? certainly the european _ that going to come from? certainly the european union _ that going to come from? certainly the european union are _ that going to come from? certainly the european union are promoting| the european union are promoting mining in terms of getting more control over the supply chain. tesla is looking at exporting that in the us. they are also looking at different battery chemistry is to use more abundant resources like iron in shorter range vehicles. thank you very much. the consumer goods companyjohnson and johnson has been ordered, by a jury, to pay $18.8 million dollars to a californian man who said he developed cancer through exposore to the company's baby powder. emoy hernandez valadez said he developed a deadly cancer as a result of heavy exposure to the company's talcum powder since he was a child. j&j said that the compa

tesla currently has around 1.3 million.profitable as other car makers, but they would argue they're trying to open up this market and encourage the sale of electric vehicles. they are operating in only one part of the market, all beat the one part of the market, all beat the one where future sales have to go to, so everyone is watching carefully. tesla was probably a premium car—maker, aiming at those premium car—maker, aiming at those premium brands that were more traditionally establish now, by pushing its prices down, it is hitting the mainstream and that is putting a lot of pressure on those established mainstream car—makers, who are looking very warily at how they respond, while maintaining those profit margins.— they respond, while maintaining those profit margins. there will be billed while _ those profit margins. there will be billed while watching _ those profit margins. there will be billed while watching that - those profit margins. there will be billed while watching that the - those profit margins. there will b

we'll go to tesla. let's see what the numbers were for th deliveries the street expecting 445,000 they delivered 466,000 vehicles. you see the consensus. as always, the model 3 and model y make up 95% of the deliveries. what did we hear from analysts after this came out? almost all said the same thing we want to see what the average selling price. we know they had to do cost cuts it worked. they have now delivered 888,000 vehicles for the year of you seed shaded part at the top right? that is the consensus of 1.8 million. they are expected to increase production and deliveries in the second half of the year. almost every analyst is noting unless something changes, we think it will hit 1.8 million target with deliverdeliveries. they are almost producing 500,000 vehicles per quarter that was increase of 8.8%. year over year, it is an increase the factories in germany and china ramped up. how much did the price cut in the second quarter cut into the auto gross margins the consensus is to come in at 1 19.5%

to the downside is tesla with the news out of china that tesla along with a number producers in china'svehicle space committing to maintain fair and balanced practices within the market, basically to normalize price. 16 automakers including tesla signed a pact to rein in abnormal pricing in the space. tesla was the only foreign brent in that deal. joining us with the latest is david welch. what do we know about this compromise between these automakers and china? >> it was interesting to read the highlights of this thing. among them, raining in marketing actions, one of them was preserving socialist principles or some such. these are very vague things that don't sit certain prices or control pricing. it's almost as if it was written by a bunch of american attorneys who wanted to avoid price-fixing but it's telling everyone stop dropping prices. the government does have a great interest instability here in selling more vehicles but also keep -- preserving the health of the companies and you can't do that if everybody is on a big prize binge. another part of it is consumers really hated th

remember, it's like people say, oh, tesla, quarter's been good that's different from this tesla's quartert estee's quarter will be bad. numbers will come down if you can't handle that, you can't take the pain. i'm going to take the pain and buy the stock maybe $175, buy more >> to the point we made during the "mad dash," jim, j&j shares are having a very good day in contrast to much of the year, up over 4% now, j&j >> they handled the stock dipped down when they started talking about some of the litigation if they get past the litigation, goes to 180. >> it goes where >> 108 if they can just get the plaintiffs to agree to the $8.9 billion offer and you get rid of the talc issue, $180. they have the fastest growing pharmaceutical business in the world, and they've got the fastest-growing med tech business in the world. i don't mean to bend over like this >> that's okay >> i do my best to hear you. >> we apologize to all of our viewers sometimes for just how loud it can be here at the new york stock exchange. >> so that we can't hear each other. i can't hear david, i'm not a valuable person

tesla, ahead of its results. the stock up over 25% this year. can the ev making keep rev up its returns? later, we'll see if netflix can keep streaming higher, in energy names can keep the summer going, and if rebounds are ahead for the health care owner. i'm sara eisen. this is "options action" live from the nasdaq market site. on the desk, mike khouw, carter worth, and brian stutland. we're going to start with the huge week for stocks as we roll into earnings season the major averages rallying for the week as cooler than expected inflation data boosted optimism on the economy and the fed banks kicking things off with results. j.p. morgan, citi, black rock, wells. the stocks trading mixed on the results. as we head into the heart of earnings season, what is onnure radar, mike, and what do you make away from the signal so far? >> yeah. so, you know, we had some mixed signals this week for sure. first as you pointed out, we did get somewhat better than expected epi data. at the same time that happened we did see increases in oil and copper prices

supply stocks also in tesla.aidi: china has named pboc deputy governor pan gongsheng is a central bank's top communist party official. let's bring in bloomberg's chief north asia correspondent stephen engle in beijing for us today. this is following the succession plan that we know. is he very much the continuity candidate here? stephen: i think so, because he is pretty well-known and respected both internationally and domestically. it is a continuity candidate because he is similar to yi gang because he has the similar economic background, extensive commercial banking experience. he also is the head of the state administration of foreign exchange, the currency regulator. he has that in his credentials. he was also architect of the three red lines of the property sector, so he has the finger on the pulse on the problems of the chinese economy and also the owner terry policy as deputy governor for quite some time. the speculation is that with you gon -- with yi gang likely being pushed to the silence because of re

kailey: speaking of elsewhere, comparing tesla to the rest of the industry or rather what tesla is sayings we will have to keep cutting as long as interest rates are up, what does that mean for everyone else working with the same kinds of margins? david: it will make it tougher on everybody. part of what is driving some of tesla's price cuts to begin with is the fact that other car companies are stepping a production of its ev, general motors getting some of those out into the market. started production of the silverado ev. mercedes has vehicles and bmw out of the market. the other companies do not have scale, they do not have the margins. they do not have the battery production in place. this will hurt. guy: what should investors -- is this a technology company or a car company? david: i think it is a car company. in matter how many of these other products you launch for tesla is still have a massive amount of revenue. we will see self-driving things. we will see software related products in vehicles. tesla -- i say it is a car company until such time as they prove they have great softwa

to focus more on tesla.e have it. ed: all right, thank you. coming up, learning to fly but with a vr headset could be as close to reality as possible. we will spot -- we will speak about that next. here in san francisco and new york, this is bloomberg technology. ♪ 76% of 23andme health customers surveyed reported taking healthier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. caroline: welcome back to bloomberg technology. ed: let's get a quick check on the markets. the nasdaq 100 up about half a percentage point we are coming off of our best week on the nasdaq 100 since mid june. it's all about the rebalancing. it's interesting to see goldman out with a note saying the rebalancing will not do much to solve the challenge of the high concentration of tech stocks on the nasdaq 100, that this diminishing of weightings will be quite small in the biggest names. how often we say the nasdaq 100? t

some stellar information for tesla. peter: tesla closed up, after news that they delivered have a million vehicles in the second quarter of the year, a jump of 85% compared to last year. the carmaker slashed prices as competition in the sector heats up, particularly in china where tesla is attornment to make further inroads. we've also seen good results from other carmakers. for more, let's hear from our guest. >> tesla's cutprice scandal has paid off. it means they can make greater inroads into the really competitive chinese market in particular, where competition is so fierce. of course there was concern, some concern where tesla launched this new strategy because of course it does have an impact on margins, but with these high volumes that continue, it's good news for tesla going forward. but the question is, because competition is heating up so much, will it be able to keep this high level of volume? and competitors in china, also offering very competitive prices as well. but it is not just the chinese story for tes

tesla reports after the bell.will get insight on the ev market from jessica caldwell, executive director of industry analytics over at edmunds. this is bloomberg. ♪ 76% of 23andme health customers surveyed reported taking healthier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. is it possible to protect my business from cyber threats? it is, with comcast business. helping every connected device stay protected. yours. your employees'. even... susan? -hers, too. safe. secure. and powered by the next generation 10g network. with comcast business, advanced security isn't just possible. it's happening. get started with fast speeds and advanced security for $39 a month for 12 months with no annual contract. plus ask how to get up to a $500 prepaid card with a qualifying gig bundle. it's an amazing thing when you show generosity of spirit to someone. and you want people to be saved and to have a better l

the details next >>> plus, the battle over tesla. bulls and bears sparring over where the ev maker is headed next everything you need to know ahead of tomorrow's big earnings report you're watching "fast money," live from the nasdaq market site in times square. in times square. we're back right after this. this infrastructure, a prime target for cyberattacks. but the same ai-powered security that protects all of google also defends these services for everyone who lives here. ♪ >>> welcome back to "fast money. shares of lockheed martin a buzz kill in today's rally. giving up early gains, ending down more than 3%. the move coming despite an earnings and revenue beat in the latest quarter the war on ukraine driving sales of the f-35 combat jet and missile defense systems. terrible price action in response to this earnings, guy. >> initially a very good price but the reversal today is something we want to talk about. it traded three times normal volume we didn't test the all-time high which i think was north of 500 they guided higher for

tesla up 7.7%. the best day since january 27th of this year.f course, after they beat delivery numbers, record numbers, they delivered more than 466,000 cars in the second quarter. and it looks like the pricing cuts that they've made of helping or helping out. but jpmorgan saying that there might be some signs of demand, stabilization rivian the best day of the year, up 13.2%. they beat both on production and deliveries. they delivered more than 12,600 cars. they produced nearly 14,000 cars and they're on target to produce 50,000 vehicles this year. i actually saw two of them on the road within moments of each other, thought it was the same one because you really don't see many of them. but a neat looking car. nikola down or actually excuse me, up 3.6% along for the right now of course tesla on the year is now up about 120% on the year you have nvidia one point up almost 200% of the year. what does this mean for the nasdaq 100? let's go into the bloomberg terminal this chart is meant to be thought provoking and what i want to point out here is

tesla and netflix report quarterly earnings. two major names in the us tech sector.e'll hear from its chief executive. hello and welcome to asia business report. we begin with netflix because the streaming giant's shares have dropped more than 8% after the bell. mike proulx is forrester�*s research director and he noted of new customers. six millino new ads is an incredible number and it is in large part due to the crackdown on password sharing. so the launch of the programme is absolutely a success and why they're going to lunch it in additional countries of. can you tell us about looking forward? because there is a massive strike that is going on in i know these numbers don't reject this, but what do you project if they don't have any production in the pipeline? netflix, and the same cannot be said for its competition, because of the fact that the company has such a large international footprint. this will provide an element of air cover to keep it fresh with new programmes, new shows, new movies while things play out in hollywood. vehicle maker has also just relea

the countdown to two of the most anticipated earnings reports of the season netflix and tesla both hit in overtime and we'll get you set before the numbers hit with alex cantor and dan ives and first with 60 minutes to go now in regulation and more gains for stocks today there it is, green across the board. the s&p 500 sitting just above 5% away from new all-time highs. the dow working on its eighth consecutive day of gains getting help today from verizon and goldman, salesforce and cisco. it's been up and down for the nasdaq ahead of those earnings and we're waiting for apple and it is mostly higher on a.i.-related headlines and not quite as strong as it was when they hit and nonetheless, it is green and it takes us to "the talk of the tape." first, though, big technologies. alex cantorwits is with me at post 9 and also a cnbc contributor. good to have you i love when these earnings start coming down especially the marquee names. what do you look for here? >> the good news is netflix will have subscriber growth, it's a completely sea change from what happened last year from when it wa

california investigating tesla over autopilot system. details on that ahead. >>> plus, crocs kicking rocks. especially the shoe brand down 13%. jumping on any sign of weakness. the ceo is next. >>> and as we go to break, technology up 13%. revenue guidance meeting expectations there negative side insurance willis powers missing on results blaming inflationary conditions and plus investments. >>> "power lunch" will be right back. you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. >>> welcome back to "power lunch. kroshg crocs trading lower. beating top and bottom lines a mixed outlook namely rev

tesla and netflix report quarterly earnings.e delve into the financial performance of two major names in the us tech sector. and it's one of the most anticipated movies this year. how much is barbie worth to toymaker mattel? we'll hear from its chief executive. hello and welcome to asia business report. i'm monica miller. we begin with netflix because the streaming giant's shares have dropped more than 8% after the bell. the company mostly beat wall street earnings forecasts for the second quarter, but disappointed on revenue. that's despite new initiatives like a crackdown on password sharing and the launch of an ad—supported subscription tier. mike proulx is forrester�*s research director and he noted that those moves helped netflix add an impressive number of new customers. six million new ads is an incredible number and it is in large part due to the crackdown on password sharing. so the launch of the programme is absolutely a success and why they're going to lunch it in additional countries. can you tell us about looking fo

stuart: that's it, tesla?'s it because it won't be a blockbuster but i think they are having other, or made some points how many people are adding in good things but when you add that many people, take away revenue for as and still don't meet revenue number, that's a yellow to reddish flag for me. stuart: you are not jumping into either, are you jumping into any stock this morning? >> this morning i am watching what's going on in semiconductors, taiwan semiconductor and said they are delaying their plant starts and other things going on in that company, geopolitical upset, they are way down this morning. that is drawing down some other thoughts that i do like. i like micron and i think has pulled back, it has laid back as it has this year as others in the tech industry and i think we are going to be building out going forward for years so long-term play, i like buying these chip stocks. stuart: and you do like tesla as a long-term play, long-term? >> i do and i think that is prudent buying is called for. they

on potential price cuts coming even dan ives of wedbush and i know he's bullish on tesla, he raised target today and said this is the trough on auto margins. >> i would say long-term story is unchanged for both of them. if you loved them before, you probably still are sticking with them it is the context. it's a test of how far markets have run into this you see things like microsoft back off as well even though they got a price target increase it's a little bit of a challenge to people who felt like up was going to be up every day, and now we're just getting a two-way mark >> we're in earnings mode, clearly, and trying to read all the signals from the economy it really does depend what industry you're in if you're in casinos or airlines, it's great videos, electronics, more challenging, potentially as far as the macro data, another drop in jobless claims, which i always look at that is not a lagging indicator, like some say unemployment numbers are. it's weekly numbers that don't show we have a big layoff problem in this country. and philly fed showed some interesting tick up in th

the consensus was 445,000 vehicles delivered what did tesla deliver 466,000. a little bit over that for the second quarter 10.2% increase quarter over quarter and the consensus was 445,000. they were doing well above the street was expecting you combine the 466 along with the 422,000 and change in the first quarter, and you are looking at tesla deliveries, if you look at the annual growth basis, they are halfway or just under halfway toward the guidance of delivering 1.8 million vehicles this year when you listen to the analysts and read notes this morning, that's what you see time and again. all of them say much better than expected halfway toward meeting the full year delivery guidance the real question is in a couple of weeks when the company reports q2 financials. what was the average selling price? no doubt the price cuts throughout the spring in china and in north america and europe. how much did that cut into the margins? it helped in stoking sales, contessa, but the question is how much did that cut into the margins, which are already on the decline, r

we've reported on multiple tesla crashes link to that feature. i spoke to one man who had a close call while using his tesla in autopilot. >> that's job itself the road. >> soca captured the aftermath when he uses tesla's autopilot feature last year. public needs but most ocha says it started off as an ordinary drive under the autopilot mode. and in a blink, things went sideways. he shared his experience thursday on social media after hearing the news that state attorney general rob bonta's office is investigating tesla's autopilot safety issues. i had assumed that on the highway. i was it straight roads, large chains, not a big issue on city streets, a most of my >> issues with autopilot. it would run through stop signs and we run the stoplights. it would put me on the wrong side of the road. and many occasion. cnbc spoke to a tesla owner who says >> he was contacted by bonta's office regarding a complaint he filed last year to the federal trade commission regarding phantom braking. he says he experienced sudden automatic braking for no apparent

gm, volkswagen tesla are adding incentives. there's a report out of china that although there's been a discussion of putting a floor in on evs, there's reports out of china that tesla might have been adding incentive there is to move out of the company in shanghai no word from the company this is going to be a brutally competitive market for some time to come despite the fact talk of a truce. let's talk about gm and ford both stocks moved higher after marringen stan sli -- they didn't do it because of the ev business they did it because of the legacy business and still see strong pricing for the vehicles from gm and ford, and especially when you look at where they are on trucks and suvs the internal combustion engine market remains very strong you talked about rivan look at the numbers. best selling ev truck. when you look at the first half sales, rivan's 1-t easily outsales the lightning one data point, shares of rivan, shares are up 50% in the last five days. >> i wonder how the invention of the cybertruck is going to impact

big earnings when it comes to tesla and netflix, tesla the price cut situation putting the squeeze ons industry. we saw the downside reaction in the after hours, up by about 1%. profitability shrinking in the second quarter. the month of price cut that has been trying to push budget constant -- slightly below wall street estimates. musk has says he is comfortable sacrificing for volume. investors are not feeling as confident in the short term. watching netflix shares falling after forecast came up short. up to him is him when it came to the password sharing crack down, that is a longer-term watch in terms of the narrative of taking more time. we are hearing from netflix about the ongoing hollywood writers and at first strike hurting cash flow into 2024. hearing from elon musk that tesla will cut prices further if economic conditions worsen. these are two major stocks watching, the stories when it comes to future earnings developing. for analysis, bob o'donnell, at techanalysis research. the sales forecast coming up short. we are seeing a decline in investor sentiment, what jumped out

and tesla up 120%. in either way. >> and both of them riding what the companies have said. se tesla gives you the volume and the sales figures before the earnings report. you know what you're working with and still working on the nvidia upside guide people have their eyes big or the confirmation for that. that's something to look for we have some of the news and responses, no matter what the results say. right now, we have the broadening trend since about memorial day, the s&p is up more than the market cap one. i like that the new cases inflation are coming down. what it mean for profit margin just keep roll ing for the next thing to worry about >> tesla's gains, since we're talk about that, contributing to ford's pain, if you will stocks down more than 5% or 6% i think you can say there's a direct correlation >> there's a correlation on who has momentum with electric vehicles right now it's tesla is it gm or ford tesla has a year of gm and ford ramping up production of the e.v. that momentum has been

all for their model, long tesla backed in early may at 168.tock touched 300 i think dap or two ago and giving something back today basically back to beginning of week or end of last week i think it's a blip. same with netflix. both conference calls really strong things are heading in the right direction. and in my opinion, key metrix are -- metrics are moving in the right direction. >> you don't care about the fact musk seems intent putting growth over profitability at this particular time? doesn't bother you at all? >> he's playing from a position of strength. so all the bears on tesla, all year, they've been crying how these price cuts are a sign that nobody wants these cars anymore. that the bottom's going to fall out and the cars through the floor. better than growth margins 18.had1 18.4%. like to see ford and gm. ford and probably many price cuts the fixed costs and labor costs tesla operates at compared to u.s. competitors, there's no contest. elon knows that and taking advantage of that. going to build next year, one of the principle th